Biotech Values

[DewDiligence]

MDCO sees near-term sale of infectious-diseases business to focus on Inclisiran (PSCK9):

https://finance.yahoo.com/news/medicines-company-reports-third-quarter-110000950.html

Turning to our process to monetize our Infectious Disease Business (ID Business), we continue to expect to announce a transaction to divest the business before the end of the year. In the meantime, independent of that transaction, we are finalizing plans to significantly restructure the remainder of The Medicines Company. We anticipate that the restructuring, which we intend to substantially implement within the next 45 days, will reduce headcount to less than 60 people…

All told, the company to emerge from the divestiture and layoff will have about 80% fewer employees than it does now.

The stock, which was initially up on this news, is now -3%.

Nitpick: They meant to say, “fewer than” 60 people.